However wealthy we may be, we can never find enough hours in the day to do everything we want. Economics deals with this problem through the concept of opportunity cost, which simply refers to whether someoneâs time or money could be better spent on something else.
Every hour of our time has a value. For every hour we work at one job we could quite easily be doing another, or be sleeping or watching a film. Each of these options has a different opportunity costânamely, what they cost us in missed opportunities.
Say you intend to watch a football match but the tickets are expensive and it will take you a couple of hours to get to and from the stadium. Why not, you might reason, watch the game from home and use the leftover money and time to have dinner with friends? Thisâthe alternative use of your cash and timeâis the opportunity cost.
For economists, every decision is made by knowledge of what one must forgoâin terms of money and enjoymentâin order to take it up. By knowing precisely what you are receiving and what you are missing out on, you ought to be able to make better-informed, more reasonable decisions. Consider that most famous economic rule of all: thereâs no such thing as a free lunch. Even if someone offers to take you out to lunch for free, the time you will spend in the restaurant still costs you something in terms of forgone opportunities.
Some people find the idea of opportunity cost extremely discouraging: imagine spending your entire life calculating whether your time would be better spent elsewhere doing something more profitable or enjoyable. Yet, in a sense itâs human nature to do precisely thatâwe assess the advantages and disadvantages of decisions all the time.
In the business world, a popular phrase is âvalue for money.â People want their cash to go as far as possible. However, another is fast obtaining an advantage: âvalue for time.â The biggest restriction on our resources is the number of hours we can devote to something, so we look to maximize the return we get on our investment of time. By reading this passage you are giving over a bit of your time which could be spent doing other activities, such as sleeping and eating. In return, however, this passage will help you to think like an economist, closely considering the opportunity cost of each of your decisions.
å°é¢2:The âleftover ... timeâ in Paragraph 3 probably refers to the time ________.
Aï¼spared for watching the match at home
Bï¼taken to have dinner with friends
Cï¼spent on the way to and from the match
Dï¼saved from not going to watch the match
è¯é¢åæï¼æç« å¤§æï¼æ¬ææ¯ä¸ç¯è®®è®ºæãæç« è®ºè¿°äºä¸ç®¡æ们å¤ä¹çå¯æï¼å¨ä¸å¤©éæ们ä¸å¯è½æ¾å°è¶³å¤çæ¶é´åæ们æ³è¦åçä¸åãå æ¤ï¼æ们è¦æ¾å¼ä¸äºäºæ
éæ©åæ´å¥½çäºæ
ã
å°é¢2:Cèæ¥è¯ä¹æ¨æµãé¢ä¸âleftover money and timeâæ¯æâå©ä¸æ¥çé±åæ¶é´âãæ ¹æ®æç« ç¬¬ä¸æ®µç¬¬ä¸å¥Say you intend to watch a football match but the tickets are expensive and it will take you a couple of hours to get to and from the stadium.å¯ç¥leftover ⦠timeææçæ¯âè±å¨è§çæ¯èµï¼è·¯ä¸ï¼æ¥å»çæ¶é´âãæ
Cæ£ç¡®ã
温馨提示:答案为网友推荐,仅供参考